Telefónica Gains Total Control of CTC

Spain's Telefónica has acquired the remaining 55.1% stake that it did not already hold in its Chilean telecoms unit, Telefónica Chile (CTC). Telefónica acquired series A shares for CLP1,000 (US$1.88) a share and series B shares for CLP900 (US$1.69) a share, a 32% premium. The acquisition cost a total of approximately US$985mn, and gives the company complete control of the fixed-line operator.

To read the full article, please choose one of the following options: